Inside Asian Gaming

IAG FEB 2021年2月 亞博匯 13 請於asgam.com註冊獲取《亞博匯早報》 Sign up to receive IAG Breakfast Briefing at asgam.com MGM RESORTS INTERNATIONAL has ended its bid to acquire British sports betting and iGaming giant Entain PLC. The company said in a January statement that “after careful consideration and having reflected” upon its initial all-stock offer to take control of Entain – which was quickly rejected – it does not intend to submit a revised offer. MGM had previously proposed an offer of 0.6 MGM shares for each Entain share, believed to value the latter at around US$12.9 billion and representing a premium of 22% on Entain’s share price. Under the terms of the proposal, Entain shareholders would have owned approximately 41.5% of a combined company. A partial cash alternative had also beenmooted although not pursued, despite MGM Resorts shareholder IAC/ InterActiveCorp supporting the move and pledging to invest up to US$1 billion to make it happen. Entain remains MGM’s joint venture partner in rapidly expanding US sports betting brand BetMGM, with MGM CEO Bill Hornbuckle stating that the partnership is still a “key priority for the company as we continue to leverage our preeminent physical gaming, entertainment and hospitality platform to expand digitally.” The decision not to further pursue acquisition of Entain is good news for Osaka, where MGM, alongside its local partner ORIX, is the sole bidder to develop an integrated resort. It had been suggested by brokerage Sanford C Bernstein that ploughing such extensive resources into Entain would “reduceMGM’s appetite for a large-scale Japandevelopment that the company has been pursuing in Osaka” such that “MGM may wind up backing away from a Japan integrated resort or reducing its partnership stake.” BOOST FOR OSAKA AS MGM RESORTS OPTS AGAINST ENTAIN ACQUISITION 美高梅終止收購英國網絡博彩 巨擘ENTAINPLC計劃，利好大阪 美高梅國際酒店集團 日前終止了對英國體育博彩公司及網 絡博彩巨擘Entain PLC的收購。 該公司於一月的一份聲明中稱，「在仔細及反復考慮了」 其最初提出的全盤收購要約（該要約迅速遭到拒絕）之後，其 不打算再次提出新的要約。 美高梅曾於較早時向英國知名網絡博彩品牌Lad- brokes的母公司Entain提出收購要約，開價以0.6股美高梅 股票，換取1股Entain股票，據信Entain的估值達到129億美 元左右，較當前股價溢價22%。根據提議的條款，Entain股東 將擁有合併後公司約41.5％的股權。 儘管美高梅國際酒店集團的股東IAC / InterActiveCorp 支持該舉措，並承諾可投資10億美元助力，而部分現金替代 方案亦在討論之中，但並未付諸實施。 Entain仍是美高梅在其快速發展的美國體育博彩品 牌BetMGM項目上的合資夥伴。美高梅行政總裁Bill Horn- buckle曾表示，該合作關係仍然是「公司的關鍵優先事項。 因為我們將繼續利用我們的實體博彩、娛樂、款客平台向數 碼化擴張。」 於大阪而言，美高梅決定不再收購Entain是個好消息。 美高梅和其當地合作夥伴歐力士是該地競逐IR開發的唯一 競標者。 券商Sanford C Bernstein曾暗示，將如此廣泛的資源注 入Entain將「減少美高梅在日本追求大規模發展的胃口」，並 且「美高梅可能會最終放棄競逐日本綜合度假村，或者減少 其在合營財團的股份。」